Ameriprise Financial Inc. Boosts Holdings in FTI Consulting, Inc. (NYSE:FCN)

Ameriprise Financial Inc. boosted its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 30.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,702 shares of the business services provider’s stock after acquiring an additional 64,431 shares during the period. Ameriprise Financial Inc. owned about 0.77% of FTI Consulting worth $52,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in FTI Consulting in the 3rd quarter valued at approximately $35,000. GeoWealth Management LLC boosted its stake in shares of FTI Consulting by 46.0% during the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 57 shares during the last quarter. Jones Financial Companies Lllp increased its position in FTI Consulting by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock worth $47,000 after purchasing an additional 197 shares in the last quarter. UMB Bank n.a. raised its stake in FTI Consulting by 59.6% in the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 99 shares during the last quarter. Finally, Quarry LP lifted its holdings in FTI Consulting by 115.4% in the 4th quarter. Quarry LP now owns 349 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FCN shares. William Blair reissued an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th. StockNews.com downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. The Goldman Sachs Group decreased their price target on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, Truist Financial downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating and dropped their price objective for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd.

Insiders Place Their Bets

In related news, CFO Ajay Sabherwal sold 5,236 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total value of $861,845.60. Following the transaction, the chief financial officer now owns 24,777 shares in the company, valued at approximately $4,078,294.20. The trade was a 17.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.51% of the stock is owned by company insiders.

FTI Consulting Price Performance

NYSE FCN opened at $165.00 on Friday. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $243.60. The firm has a market capitalization of $5.66 billion, a P/E ratio of 21.15 and a beta of 0.18. The business’s 50-day simple moving average is $163.51 and its 200-day simple moving average is $183.00.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The firm had revenue of $898.28 million for the quarter, compared to analysts’ expectations of $906.93 million. During the same period in the previous year, the company posted $2.23 earnings per share. FTI Consulting’s revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 6.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.